Charles Schwab, one of the largest financial services firms in the U.S., is preparing to launch spot trading for Bitcoin and Ethereum by the end of the current quarter, according to sources familiar with the matter. The move signals a significant step toward mainstream adoption of cryptocurrencies by traditional financial institutions.
The reported expansion into crypto spot trading follows Schwab’s earlier forays into digital assets, including its involvement in the launch of a cryptocurrency ETF through its subsidiary, Schwab Asset Management. Analysts suggest the firm’s decision reflects growing institutional demand for regulated crypto investment options.
“This aligns with Schwab’s strategy to meet client demand for diversified investment products,” said a financial analyst who requested anonymity due to lack of authorization to speak publicly. “They’re positioning themselves to compete with other brokerages already offering crypto services.”
If confirmed, Schwab would join competitors like Fidelity and Robinhood in offering direct cryptocurrency trading to retail investors. The development comes as regulatory clarity around digital assets remains uncertain, with the SEC yet to approve spot Bitcoin ETFs despite multiple applications.
Market observers note that Schwab’s entry could bring increased liquidity and legitimacy to crypto markets, though some caution that regulatory hurdles may still pose challenges. The firm has not officially confirmed the timeline or details of its planned crypto offerings.